amount owed the Government by an individual, organization, or other entity upon completion of the acts giving rise to such claims. Examples of receivables generated by normal functions of Government agencies include amounts due for loans, sales of goods and services, fines, penalties, forfeitures, interest, overpayments, fees, duties, rents, royalties, claims, damages, audit disallowances, and travel advances.
When you sell something on credit, you should make a record of accounts receivable, namely: who and how much owes you. In bookkeeping, accounts receivables are recorded only in the assets item and represent the money somebody owes you.